1. FIIs sold 9586 Contracts of Index Future (NSE Nifty Futures and Bank Nifty Futures combined),worth 312.98 cores with net Open Interest increasing by 24218 contracts.
2. As CNX Nifty Future was up by 53 points with Open Interest in Index Futures increasing by 24218 so FIIs created fresh long in Nifty and Bank Nifty. Friday we moved above trend changer level of 6026 and FII again created longs in Nifty and Bank Nifty future.
3. NS closed at 6075 after making high of 6080 and low of 6015. Nifty is just 5% away from its life time high which was recorded in 2007, Dow Jones is just 2% away from its life time high and with RBI governor starting the rate cut cycle can add required fuel to fire for nifty reaching the all time high. We will remain sellers in Nifty till it do not cross 6100 on closing basis. Rise will not be easy ride as lot of supply coming from DII and Retail investors who were stuck from 2008 in stocks.
4. Resistance for Nifty has come up to 6098 and 6120 which needs to be watched closely ,Support now exists at 6056 and 6014.Trend is Sell on Rise till 6100 is not broken on closing basis.
5. Nifty Future January Open Interest Volume is at 1.15 cores with liquidation of 7.2 lakh in Open Interest, Short covering in shorts in Nifty future.Cost of Carry of Nifty Future increased to 6.46 with fall in OI suggesting profit booking IN SHORTS.Rollovers have started in Nifty Future and 11 lakhs got rollovered to Feb Series, as market participants are expecting a rate cut which will further fuel rally in Nifty.
6. Total Future & Option trading volume at 1.45 lakh Cores with total contract traded at 1.88 lakh, PCR (Put to Call Ratio) at 0.99 and VIX at 14.77.
7. 6200 Call Option is having highest Open Interest of 95 lakhs with liquidation of 2.0 lakhs in Open Interest, 6100 Nifty CE is having second highest OI at 67 lakh liquidation 17 lakhs in OI,with Option premium at Rs 28 short got liquidated in 6100 CE ,6000 CE saw liquidation of 7.6 lakhs in OI .5700-6300 Call Options liquidated 30.3 lakhs in OI. Bears got a solid punch from bulls.
8. 6000 Put Option is having highest Open Interest of 85 lakhs with addition of 17.7 lakhs in OI so base building strike price has moved to 6000 in a 50 points move in Nifty. 6100 Put Option added 6.4 lakhs with OI at 31.8 lakhs so bulls need to add aggressive OI in 6100 PE so as to have expiry above 6100 .5700-6300 Put Options added 20.9 lakhs in OI.
9. FIIs buying in Equity in tune of 586 cores and DII sold 331 cores in cash segment,INR closed at 53.70 Live INR rate @ http://inrliverate.blogspot.in/).
10. Nifty Futures Trend Deciding level is 6058(For Intraday Traders), Trend Changer at 6028 NF(For Positional Traders). (Above this Level Bulls will rule Nifty/Below this levels Bears have upper hand). Bank Nifty Future Trend Changer Level 12733.
Buy above 6081Tgt 6101,6121 and 6147
Sell below 6055 Tgt 6033,6015,6000(Nifty Spot Levels)
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As FII sold net 9586 index fut contracts worth 313cr and still you infer they created fresh longs..? This is really confusing. Please clarify this as I am a novice. Some other blogs interpret same as FII went short in Index.
Open Interest is a debatable topic and a views differ as we see a half filled glass as half empty or half filled.. As per my system i do not see any shorts so wrote the same in my analysis.